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Policies & Procedures

POLICIES AND PROCEDURES OF THE STOCK BROKER, DP TradeKING Private Limited As per SEBI Circular MIRSD/SE/Cir-19/2009 dated December 3, 2009

This policy governs Member-Client relationship, ie. relations between stock broker and client: This has reference to your trading account maintained with us and Know Your Customer (KYC) norms specified by Securities and Exchange Board of India (SEBI) vide their circular No. MIRSD/ SE /CIR-19/2009 dated December 03, 2009. Aforesaid circular warrants DP TradeKING Private Limited to bring into notice of all broking clients the Policies & Procedures adopted by DP TradeKING Private Limited. The client is requested to please take notice of our policies and procedures given herein below.

DP TradeKING Private Limited shall be at liberty to change the below given policies and procedures without giving any reason and the client shall be informed by the possible mode of communication including Website of DP TradeKING Private Limited: www.dptradeking.com. Updated Policy and Procedures is made available on Website of DP TradeKING Private Limited: www.dptradeking.com. The decision of DP TradeKING Private Limited will be binding to client. The client has to get himself updated from the policy and procedure which available on Website of DP TradeKING Private Limited.

For the safety of client, brokers and market as a whole, policy of DP TradeKING Private Limited policy to refuse orders for penny stocks is as under

  • DP TradeKING Private Limited will prepare list of penny stocks based on certain criteria and publish the list of penny stocks on Website of DP TradeKING Private Limited and will be updated from time to time. Such list will inter-alia includes but shall not be restricted to the list of illiquid securities declared by the stock exchange or any other Regulatory Authority or infrequently traded stocks/contracts etc. In general terms, a penny stock is a low-priced and/or a speculative security, may be of a very small company, regardless of its market capitalization. Decision of the DP TradeKING Private Limited will be final.
  • DP TradeKING Private Limited may at its discretion refuse to execute any buy or sell order of the client in penny stock in-toto or by imposing higher margin percentage and/or demanding advance payment of expected settlement value/delivery of penny stock, if DP TradeKING Private Limited is of the view that such execution would adversely affect market integrity or give rise to regulatory /disciplinary actions/ concerns.

The client will have to abide by the exposure limits, if any, set by DP TradeKING Private Limited or by the exchange or Clearing Corporation or SEBI from time to time. The client is aware and agrees that such exposure limit whether on the buy or the sell side, may operate specific to a security or contract and/or on an aggregate basis or based on need of DP TradeKING Private Limited need to vary or reduce or impose new limits urgently on the basis of assessment of the associated risks perception of DP TradeKING Private Limited, risk profile of the client and other factors considered relevant by DP TradeKING Private Limited including but not limited to limits on account of exchange/SEBI directions/limits (such as broker level/ market level limits in security specific/volume specific exposures etc.). DP TradeKING Private Limited may be unable to inform the client of such variation, reduction or imposition in advance. DP TradeKING Private Limited, from time to time, shall also be entitled to squareoff/liquidate/sale/close the position(s) and/or stock as it may deem fit without any reference to the client, in case the client fails to maintain/deposit minimum margin as required by DP TradeKING Private Limited The client agrees that DP TradeKING Private Limited shall not be responsible for such variation, reduction or imposition or the client's inability to route any order through trading system of DP TradeKING Private Limited on account of any such variation, reduction or imposition of limits. The policy will be at the discretion of DP TradeKING Private Limited based on margin availability, selection of the scrip, component of cash and securities, past track records of the client, volatility in the market and other factors considered relevant by DP TradeKING Private Limited. Exposure limit of the client will be set by Risk Management & Surveillance (RMS) Department of DP TradeKING Private Limited on the basis of above criteria and will vary from time to time due to conditions mentioned above. It will be duty of client to find out for the exposure limit set, from Risk Management & Surveillance (RMS) Department of DP TradeKING Private Limited, and the client will have to keep himself informed on regular basis.

Brokerage may vary from client to client on the basis of client profile. Brokerage will be charged within the maximum limits prescribed by SEBI/Exchanges from time to time. The rate of brokerage will be charged as mutually agreed with the client and the client will be informed by suitable communication mode. The details of applicable brokerage and all statutory dues/levies will be made available on Website of DP TradeKING Private Limited and the client has to update himself/herself/itself about the applicable brokerage and all statutory due/levies from Website of DP TradeKING Private Limited.

  • For Cash/Futures Segment:

    The maximum brokerage chargeable in relation to trades executed in the securities admitted to dealings on the Capital Market segment of the Exchanges shall be 2.5 % of the contract price, exclusive of statutory levies/dues. It is hereby further clarified that where the sale / purchase value of a share is Rs. 10/- or less, the maximum brokerage of 25 paise per share may be collected.

  • For Options contracts:

    Brokerage for options contract would not exceed Rs.100/- per lot on single side or such other rates as provided by the exchanges. The maximum brokerage limit may vary as specified by Stock Exchange or SEBI or other Regulatory Authority. The brokerage shall however be exclusive of the following charges which the client shall also pay:

    • Service Tax and Education Cess
    • Securities Transaction Tax
    • SEBI/Exchange/Clearing member charges
    • Stamp Duty
    • All applicable tax/Government Levies/ Statutory Levies prevailing at present and may be imposed by Government or Statutory Authority from time to time
    • Statutory charges payable to SEBI/Exchange/ Clearing member, Authorities etc.
    • DP Annual Maintenance charges
    • Account opening charges
    • Other Charges/Fees as may be deemed fit by DP TradeKING Private Limited after duly notifying to client, which is not in contradictory to the acts/rules/regulation/bye-laws of the Exchange/SEBI prevailing at present and changed from time to time

Imposition of penalty/delayed payment charges by either party, specifying the rate and the period Client shall be liable to charges on non-payment of margin money, short selling of securities or units, failure on payment of auction, charges for dishonor of cheque(s) given by the client, non delivery of shares, auction charges, penalties levied by the Exchanges for client limit violation, increased open position or on any orders / trades / deals / actions of the client which are contrary to rights and obligations, policies and procedures and other voluntary documents, if executed / rules / regulations / bye laws of the exchange or any other law for the time being in force as per Rules, Regulations, Guidelines and Circulars issued by SEBI and stock exchange. The Client shall pay DP TradeKING Private Limited fees, account opening/ maintenance charges, charges for availing research reports, charges for availing special facility for mobile broking/SMS facility or any other charges for special services/facilities availed by the Client including but not limited to charges related to opening/ maintaining and/or carrying out demat related activities through a demat account maintained with DP TradeKING Private Limited, inter settlement charges etc. as applicable from time to time. Similarly in case of non receipt of any amount due either full payment of value of delivery purchased and margin imposed (initial + MTM + Exposure) towards trading or on account of any other reasons, to DP TradeKING Private Limited, delayed payment will be charged at 21% p.a. calculated on daily basis on shortfall amount till the date of actual realization of money/margin.

DP TradeKING Private Limited may, as par prevailing rules/regulation/bye-laws of the stock exchange/SEBI/ other Regulatory Authority, keep the unutilized margin deposits of the client in bank deposits and pay interest on the same at such rate as may be mutually agreed in writing between DP TradeKING Private Limited and the client, out of the interest accrued on the said deposits. The client cannot demand interest on unutilized margin deposits kept with DP TradeKING Private Limited. It will be at the sole discretion of DP TradeKING Private Limited to pay interest on unutilized margin deposits kept by client with DP TradeKING Private Limited and that also subject to expressly agreed upon with the client on case to case basis which is duly notified to client in writing.

List of the penalty, charges will be displayed on Website of DP TradeKING Private Limited and keep on changing from time to time and updated on Website of DP TradeKING Private Limited from time to time. It is the duty of the client to get himself aware of the list of charges and penalty from Website of DP TradeKING Private Limited. All fines/penalties and charges levied upon the Client due to its acts /deeds or transactions will be recovered by DP TradeKING Private Limited directly from the client's account. The Client hereby authorizes DP TradeKING Private Limited to directly debit the delayed payment charges to his account, at the end of month / such other interval as may be decided by DP TradeKING Private Limited. The Client also agrees that any amount overdue from him/her (including the interest on delayed payment) shall be offset against the dues owed by DP TradeKING Private Limited to the Client.

The right to sell clients' securities or close clients' positions, without giving notice to the client, on account of non-payment of client's Dues As per rules/regulation and bye laws of the exchange, it is the duty of the client to pay margin and funds or securities obligation to DP TradeKING Private Limited. In case the client fails to deposit the fund, securities including but not limited to settlement and margin payment due to DP TradeKING Private Limited before pay-in date notified by the Exchange from time to time, DP TradeKING Private Limited reserves right to sell client securities or close client position as per policy of DP TradeKING Private Limited without notice to client, after taking into account any amount lying to the credit of the Client. DP TradeKING Private Limited may, in its sole discretion, square off any outstanding position(s) of the client due to restrictions in relation to volume of trading/outstanding business or margins stipulated by the Exchange, Clearing Corporation, Clearing House and/or DP TradeKING Private Limited and/or any other extraordinary event warranting such square off, without prior intimation to Client. In the event, when the stock exchange demands for early pay-in of fund and/or securities, DP TradeKING Private Limited may demand the same from client and if client fails to meet early pay-in requirement of funds and/or securities, DP TradeKING Private Limited reserves right to sell clients securities or close client position without notice to client The Client should be aware that it is the first and foremost duty of the client to pay margin and funds or securities obligation to DP TradeKING Private Limited before pay-in date. The client cannot take shelter that DP TradeKING Private Limited will liquidate his/her/its stock in margins if the client fails to pay margin and funds or securities obligation DP TradeKING Private Limited So far as possible, DP TradeKING Private Limited may communicate to client before or after selling of securities or closing the open position, but it is the primary duty of the client to know his fund or margin or security obligation and to pay the same before pay-in date. The client has to know dues payable to DP TradeKING Private Limited from time to time arising out of his/her/its transactions in secondary market. The client understands that he/she/it has to get himself/herself/itself updated about the rules / regulation / bye-laws of the exchange and from various communications made by DP TradeKING Private Limited/Stock Exchanges/SEBI/ other Regulatory Authorities. The loss, if any, on account of liquidation, shall be debited to the account of the Client.

The Client hereby agrees that if he/she/it has short delivered any securities against his/her/its pay-in- obligation which resulted into internal shortage, i.e. buy position of another client of DP TradeKING Private Limited, Self Auction of Internal Short Scrip will be carried out by DP TradeKING Private Limited. Internal Shortage in BSE In case of internal shortage of securities in BSE, DP TradeKING Private Limited will request the exchange to conduct the auction on behalf of DP TradeKING Private Limited. The seller client will be debited at auction rate plus penalty charged by the exchange and the securities payout will be passed on to buyer or closeout as per Exchange rules. If the self auction file is rejected or failed on account of technical or any other reason, then close out price will be the Highest Weighted Average Price for any day recorded in the scrip from the trading day on which the transaction took place up to the day of auction or the closing price on the day of auction i.e. T+2 day + 2%(for NIFTY INDEX scrips) and 5% (for other scrips). The profit, arising on account of closeout price lower than the sell rate, the benefit, if any, will be passed on to buyer. The seller will be debited by the same amount plus 0.50% penalty on value. Internal Shortage in NSE Close out price will be the Highest Weighted Average Price for any day recorded in the scrip from the trading day on which the transaction took place up to the day of auction or the closing price on the day of auction i.e. T+2 day + 2%(for NIFTY INDEX scrips) and 5% (for other scrips). The profit, arising on account of closeout price lower than the sell rate, the benefit, if any, will be passed on to buyer. The seller will be debited by the same amount plus 0.50% penalty on value. The above procedure, charges may vary from time to time and such variation will be displayed on Website of DP TradeKING Private Limited Internal Shortage in MCX Stock Exchange.

Conditions under which a client may not be allowed to take further position or the broker may close the existing position of a client DP TradeKING Private Limited may refuse to execute/ allow execution of orders due to but not limited to the reason of lack of margin/securities or the order being outside the limits set by DP TradeKING Private Limited/exchange/SEBI and any other reasons which DP TradeKING Private Limited may deem appropriate in the circumstances.

  • For non-payment or erosion of margins or other amounts, outstanding debts, etc. DP TradeKING Private Limited can adjust the proceeds of such liquidation/close out, if any, against the client's liabilities/ obligations.
  • Any order which is executed without the required Margin in the Client's account or the broker's exposure is more than 90% and above, no fresh trade will be allowed.
  • The client hereby authorizes DP TradeKING Private Limited to square off all his/her/its outstanding positions at the discretion of DP TradeKING Private Limited. Further, it would be the duty of the client to monitor his/her/its position with DP TradeKING Private Limited from time to time. In case of any delay or failure by the client in meeting any obligations, margin requirements etc. DP TradeKING Private Limited may at its discretion, close the open position/contract without any further intimation to the client in this regards as per the Risk Management & Surveillance (RMS) policy.
  • Under certain market conditions, it may be difficult or impossible to liquidate a position in the market at a reasonable price or even no liquidation may take place at all, when there are no outstanding orders either on the buy side or the sell side, or if trading is halted in a security due to any action on account of unusual trading activity or stock has hit circuit filters or for any other reason as prescribed or instructed by SEBI.
  • DP TradeKING Private Limited is entitled to disable / freeze the account or trading facility / any other service if, in the opinion of DP TradeKING Private Limited, the client has committed a crime, fraud or has acted in contradiction of rights and obligations document including voluntary rights and obligations and documents or / evade / violate any laws, rules, regulations, directions of a lawful authority whether Indian or foreign or if DP TradeKING Private Limited so apprehends. Any profit/loss arising out of these transactions shall be at the risk of and borne by the client.

Temporarily suspending or closing a client's account at the client's request Client may instruct the member to close the account or suspend the trading through client's account for the period as specified in the request in writting and duly signed by him. DP TradeKING Private Limited can withhold the payouts of client and suspend client's trading account due to surveillance action of DP TradeKING Private Limited or judicial or/and regulatory order/action requiring client suspension. DP TradeKING Private Limited shall maintain such suspension/disablement till such time the client makes a specific request and complies with required formalities in that regard.

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